AC Milan are set to post a loss of €145.9 million (US$162.3 million ) for the 2018/19 season, according to their latest financial filings, reports, www.sportspromedia.com/.

The figure makes for grim reading for the Serie A club, with losses approximately €20 million (US$22.3 million ) greater than the previous year.

Revenue has also fallen 6.1 per cent to €241.1 million (US$268.8 million), according to the filing. This is despite an increase in revenue from broadcast rights, which rose from €113.8 million (US$126.9 million) to €113.8 million (US$22.3 million).

The decline can partly be attributed to revenues from sponsorship income, which fell from €44.7 million (US$49.6 million) to €38 million (US$42.3 million), player management, down from €42 million (US$46.6 million) to €25.5 million (US$28.4 million) , and competition revenue, which dropped from €35.3 million (US$39.3 million ) to €34.1 million (US$37.8 million).

Milan also saw business costs increase, jumping 5.1 per cent to €373 million (US$415 million).

Personnel costs rose more than €34 million (US$37.7 million) to €184.8 million (US$205.5 million), with depreciation and amortisation increasing from €86.4 million (US$96.1 million) to €89.1 million (US$99.1 million).